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Expanding the Dimensions of Global Development

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By Correspondent

If trust funds and financial intermediary funds (FIFs) didn’t exist, they would need to be invented. In a world where development needs far outstrip available resources, trust funds and financial intermediary funds (FIFs) offer unique partnerships.

The 2024 Trust Funds Annual Report vividly illustrates how these financial instruments expand the dimensions of global development by bringing partners together to address the challenges of our time—from public health to energy access and food security.

Commitment and Consolidation

Each trust fund managed by the World Bank Group complements its core financing to support low and middle-income countries in nearly every area of development worldwide.

Trust funds vary in size and scope, but all uphold the World Bank Group’s mission to end extreme poverty and boost shared prosperity on a livable planet.

The 229 standalone trust funds and 67 large, multi-donor “umbrella” trust funds hold substantial resources contributed by development partners: in the 2024 fiscal year, trust funds received $7.2 billion in contributions from over 100 donors and disbursed $10.1 billion. 

They hold $18.9 billion in trust, with 40 percent of this amount already committed and pending disbursement.

Read the whole story…

https://www.worldbank.org/en/news/feature/2024/12/13/2024-trust-fund-annual-report

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